Wipro Limited (NYSE:WIT) Receives Consensus Recommendation of "Hold" from Brokerages

Wipro Limited (NYSE:WIT - Get Free Report) has been given an average rating of "Hold" by the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company.

A number of brokerages have recently issued reports on WIT. UBS Group raised shares of Wipro from a "sell" rating to a "neutral" rating in a research report on Thursday, January 2nd. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a research note on Monday, January 20th. Finally, HSBC upgraded Wipro from a "reduce" rating to a "hold" rating in a report on Monday, December 9th.

Wipro Stock Performance

WIT stock traded up $0.01 during midday trading on Wednesday, reaching $3.64. 3,799,440 shares of the company were exchanged, compared to its average volume of 6,630,164. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $5.53. Wipro has a one year low of $2.55 and a one year high of $3.79. The firm has a market capitalization of $38.01 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91.

Wipro (NYSE:WIT - Get Free Report) last announced its earnings results on Friday, January 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Wipro had a net margin of 13.96% and a return on equity of 15.46%. Equities research analysts forecast that Wipro will post 0.14 EPS for the current year.

Institutional Trading of Wipro

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC grew its position in shares of Wipro by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock worth $25,000 after buying an additional 3,557 shares during the period. Bell Investment Advisors Inc grew its position in Wipro by 100.0% in the 4th quarter. Bell Investment Advisors Inc now owns 7,262 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 3,631 shares during the period. Sierra Ocean LLC bought a new position in Wipro during the 4th quarter valued at $29,000. Farther Finance Advisors LLC lifted its stake in Wipro by 148.3% during the 4th quarter. Farther Finance Advisors LLC now owns 8,123 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Freestone Capital Holdings LLC bought a new position in Wipro during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Company Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.